SharePlanner (< 20)

S&P At Key Resistance Level

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Quickly approaching what I consider to be a key level on the S&P futures, which is 1092. So far it has tested this level, as of this post, and saw a small amount of selling come in right afterwards. We'll see what happens from here on out.

Based on indicators I'm watching, this morning's move pushed the S&P clearly into overbought territory. Of course, these indicators don't mean much...continued earnings beats and any improved macro news could easily push stocks higher here. The S&P is currently ~1.5% shy of the 200-day. I'm waiting to see what happens here.